Global Smart Safe Cash Management Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Smart Safe Cash Management Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A smart safe cash management system, which includes equipment and software, enables consumers to overcome cash handling issues. Smart safe cash management also allows monitoring businesses cash at every point of cash handling processes. Smart safe cash provides clear visibility of cash flow at every step. Furthermore, it enables keep cash secure and safe from the risks of retail shrinkage including counterfeit bills, theft, and human errors. Additionally, it allows consumers to focus on core businesses like customer services which leads to an increase in business operations.

Market Overview:

The latest research study on the global Smart Safe Cash Management Systems market finds that the global Smart Safe Cash Management Systems market reached a value of USD 3207.69 million in 2022. It’s expected that the market will achieve USD 5003.17 million by 2028, exhibiting a CAGR of 7.69% during the forecast period.

Influence of COVID-19 Outbreak on Smart Safe Cash Management Systems Industry Development

The COVID-19 outbreak had a negative impact on the growth of the smart safe cash management market, owing to a surge in the inclination of consumers towards digital transaction solutions such as mobile wallets, prepaid cards, contactless payment, and others is expected to hamper the market growth during the pandemic situation. Furthermore, the outbreak of COVID-19 has resulted in a worldwide lockdown and shutdown of manufacturing facilities, disrupting the supply chain of smart safe cash management equipment. A strict ban on the interstate and international transportation of finished products has adversely affected the market size. Moreover, most of the exported smart safe cash management equipment orders were canceled or delayed due to lockdown, further impacting the market growth. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply is difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in the smart safe cash management equipment industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer's delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and losing business.

Market Drivers

Rising concerns with respect to the safety of valuable physical assets, growth in perceived threat levels, increase in retail and commercial banks, and rise in security awareness are the major factors that drive the growth of the global smart safe cash management systems market. The increasing need for centralized cash management solutions, growing demand for automation and optimization of working capital, and surging demand to predict cash flow accurately are the factors propelling the market growth. Based on application, the market has been segmented into financial institutions, Retail, hotels, restaurants, government organizations, and other applications. For enterprises in these industries, having more cash on hand comes with more responsibility. Effectively managing and processing that cash, especially if done manually, can create a lot of unnecessary stress for operators. More business owners are realizing that they’re putting a strain on valuable resources while still being unable to avoid the risks of shrinkage or inadequate security, therefore, the smart safe cash management systems in these industries is more and more widely used. By implementing smart safe cash management systems, enterprises in these industries ensure not only accurate counting, but safety and security for their staff and the cash being handled, transported, and deposited. Hence, the powerful functions and benefits of smart safe cash management systems drive consumption, which is beneficial to the development of the industry.

The major factors that drive the smart safe cash management systems market growth are technological innovation in product offerings, rise in adoption for retail industry, increase in application areas among endusers, and heavy venture capital investments in R&D activities to develop products with enhanced capabilities, these factors have brought opportunities to the development of the industry. The growing adoption of smart safe cash management systems across various enduses is anticipated to fuel market growth. Smart safe cash management systems helps businesses overcome cash handling and storage issues, it allows customers to efficiently manage their cash and provides them with accuracy, connectivity, and security. Numerous businesses are focusing on driving financial efficiency and managing transaction risk. As a result, businesses are widely adopting smart safe cash management systems. Rising demand to access a suite of online receivable, payable, and reporting solutions to meet business needs, along with easy access to e-statements and balances and transaction information through a consolidated dashboard, drives the market growth. Furthermore, the increasing need for smart safes in banking transaction processes is anticipated to propel market growth. Moreover, managing banknotes and coins is central to operations within the Retail sector and is an intrinsic part of both customer transactions and interactions. Developing a comprehensive cash management strategy is essential to optimizing staff efficiency, delivering exceptional customer service, and ultimately increasing profitability.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Glory , Diebold Nixdorf , Brinks , GardaWorld and Hyosung are the five key players in the global Smart Safe Cash Management Systems market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Smart Safe Cash Management Systems market in the past 5 years.

Glory delivers secure, efficient payment systems and instant, highly accurate identity verification and authentication solutions that enable confidence in transactions and other interactions between businesses and people. Glory serves customers in over 100 countries around the world. With a direct presence in over 20 countries and a global network of distribution partners, Glory is global leaders in cash technology solutions.

Diebold Nixdorf, Incorporated is a world leader in enabling connected commerce. Diebold Nixdorf automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world's top 100 financial institutions and top 25 global retailers, Diebold Nixdorf's integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 23,000 employees worldwide.

Segmentation Overview:

Among different product types, On-premise segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Retailers segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Smart Safe Cash Management Systems market covered in Chapter 3:

Triton Systems
AMSEC
Hyosung
intimus
Tellermate
Gunnebo
Diebold Nixdorf
Brinks
Tidel Engineering
Glory
Loomis
Armor Safe Technologies
FireKing Security Group
Fiserv
GardaWorld

In Chapter 4 and Chapter 14.2, on the basis of types, the Smart Safe Cash Management Systems market from 2018 to 2029 is primarily split into:

Cloud-based
On-premises

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Smart Safe Cash Management Systems market from 2018 to 2029 covers:

Retailers
Banks
Casinos
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)